USDCAD Short at Major Resistance and Divergence

22 нояб. 2013 г.

Seeing a long tail at the major resistance at 1.0550. You could also do a limit order at the resistance to further reduce the risk. The major risk in this trade is the bullish trend. If this pair does go down next week then think about taking profits, because in the end, the trend always prevails.

Stop is above the tail and taking profit at the recent consolidation range (between 1.04 and 1.05).

Also RSI divergence present (price is making higher highs, while rsi is making lower highs) - losing momentum